Singapore’s Master Plan is widely known for guiding the development of every plot of land in the country, ensuring that our urban growth takes place in a systematic and progressive manner.
But more than that, the many changes outlined in the Master Plan could mean good news for local homeowners, both current and aspiring. By optimising Singapore’s limited space, the Master Plan aims to tackle foreseeable urban challenges, while also meeting the future land-use needs of generations to come.
Though likely unintended as a positive outcome, the upwards movement of private property prices in designated growth areas can too be associated with Singapore’s Master Plan.
Take for example, the Jurong Lake District which is expected to become Singapore’s second Central Business District (CBD), and more.
Apart from a commercial hub at Jurong Gateway, the area will also see the development of a leisure and recreational area at Lakeside, effectively transforming it into the biggest regional centre outside of the CBD.
As a result, these Master Plan announcements can be thought to have a positive growth effect on the value of private properties in nearby areas over the course of the near to mid-future.
Developments around Jurong that have certainly benefitted due to the Master Plan include The Mayfair, Parc Oasis, Ivory Heights, and J Gateway – all of which saw psf price growths ranging from $440 psf to as much as $750 psf over the past two decades.
Based on this observation, buyers of upcoming new launches will surely want to take note of the respective urban plans and private residential opportunities coming to their desired area(s):
In the West, upcoming launches include Sora, Lumina Grand, The Hillshore, The Hill @ One North, as well as a yet-to-be-named development at Clementi Avenue 1.
In the North, homebuyers will find upcoming developments, such as the Punggol Digital District, a smart business park, as well as the Woodlands Regional Centre with its numerous office and retail options.
These Master Plan projects are likewise situated near a series of upcoming launches. These include Lentoria, Lentor Mansion, and two residences coming respectively to GLS sites at Champions Way and Lentor Central.
As for the East, urban rejuvenation can be found in the transformation of Paya Lebar Air Base into a liveable new town, together with the expansion of Changi Aviation Park to serve new aviation-related sectors and businesses.
These plans in the East will be accompanied by new launches including Kassia, Ardor Residence, two developments at the GLS sites at Tampines Avenue 11 and Jalan Tembusu, as well as another at the former Bagnall Court.
Finally, for the Central and Southern regions of Singapore, the Master Plan will see even more new changes to the downtown area, which already is a dynamic and liveable city centre, as well as the Greater Southern Waterfront, a residential and business district twice the size of Punggol.
New launches coming to both of these regions include private residential developments at the former Central Mall, GLS site at Marina Gardens Lane, Keppel Bay Plot 6, Marina View Residences, Skywaters Residences, Newport Residences, The Residences at W on Singapore’s Sentosa Cove, The Hillshore, and The Hill @ One North.
Disclaimer
This information is provided solely on a goodwill basis and does not relieve parties of their responsibility to verify the information from the relevant sources and/or seek appropriate advice from relevant professionals such as valuers, financial advisers, bankers and lawyers.
For avoidance of doubt, ERA Realty Network and its salespersons accept no responsibility for the accuracy, reliability and/or completeness of the information provided. Copyright in this publication is owned by ERA and this publication may not be reproduced or transmitted in any form or by any means, in whole or in part, without prior written approval.